Bench Trial Begins in Follow-The-Settlements Action in N.Y. Federal Court

UTICA, N.Y. — A bench trial has begun in a dispute between Munich Reinsurance America Inc. and Utica Mutual Insurance Co. concerning reinsurance coverage for an underlying settlement of asbestos claims filed against Goulds Pumps Inc.

The bench trial began on July 9 before Judge Brenda K. Sannes of the U.S. District Court for the Northern District of New York.

In the 1970s, Utica sold primary and umbrella insurance policies to Goulds Pumps Inc. Utica and Munich Reinsurance America Inc. entered into facultative reinsurance agreements that covered the 1973 and 1977 umbrella policies.

Goulds was hit with tens of thousands …